Bank Holding Company Act

What does Bank Holding Company Act mean in American Law?

The definition of Bank Holding Company Act in the law of the United States, as defined by the lexicographer Arthur Leff in his legal dictionary is:

A federal statute (12 U.S.C. § 1841 et seq.) regulating the permissible ownership of voting securities of more than one bank, and (as recently amended) to regulate the activities of bank holding companies, particularly to prevent the easy creation of large bankingindustrial combinations.